Public Sector Pension Investment Board Invests $8.14 Million in DoorDash, Inc. $DASH

Key Points

• The Public Sector Pension Investment Board has invested approximately $8.14 million in DoorDash, acquiring 44,530 shares in the first quarter.
• DoorDash's CEO, Tony Xu, and COO, Prabir Adarkar, have both sold significant amounts of stock recently, with Xu selling 51,250 shares and Adarkar selling 62,267 shares.
• DoorDash's stock is currently rated as a "Moderate Buy" by analysts, with the consensus target price set at $263.88.

Public Sector Pension Investment Board purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 44,530 shares of the company's stock, valued at approximately $8,139,000.

Other hedge funds also recently modified their holdings of the company. Harbour Investments Inc. raised its holdings in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the period. SouthState Corp raised its holdings in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares during the period. ORG Partners LLC raised its holdings in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC raised its holdings in shares of DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after purchasing an additional 247 shares during the period. Finally, Mizuho Securities Co. Ltd. raised its holdings in shares of DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after purchasing an additional 180 shares during the period. Institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

DASH traded up $5.92 during trading on Monday, reaching $253.92. The stock had a trading volume of 2,127,997 shares, compared to its average volume of 4,740,108. The stock has a market cap of $108.47 billion, a PE ratio of 141.04 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The business has a 50-day moving average of $239.89 and a 200-day moving average of $209.23.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted ($0.38) earnings per share. The company's revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on DASH. JMP Securities lifted their price target on shares of DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Zacks Research raised shares of DoorDash to a "hold" rating in a report on Tuesday, August 12th. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group boosted their target price on shares of DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 11th. Thirteen analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the sale, the chief financial officer directly owned 244,905 shares in the company, valued at $59,947,845.90. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shona L. Brown sold 1,650 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $272.00, for a total transaction of $448,800.00. Following the sale, the director owned 41,827 shares of the company's stock, valued at approximately $11,376,944. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 686,437 shares of company stock valued at $161,070,166. 5.83% of the stock is currently owned by insiders.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.